Sample records for opec countries thousand from the National Library of Energy Beta (NLEBeta)

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The phenomenon of OPEC aid has, thus, undergone a remarkable evolution in magnitude, in geographical coverage, in the number of channels of such assistance and in its role and impact. The essential feature of OPEC aid has been and continues to be that OPEC aid represents financial flows from one group of developing countries to another group of developing countries. It is, thus, a concrete manifestation of economic and financial cooperation among developing countries born of the natural solidarity which exists between OPEC Member Countries.

The purpose of the study was to assess whether the benefits derived from Official Development Assistance (ODA) from the Organization of Petroleum Exporting Countries (OPEC) exceed the extra costs of imported oil paid by the Oil-Importing Developing Countries (OIDCs) since the fall of 1973. For purposes of analysis, the OIDCs were divided into four regions of Africa, Asia, the Middle East and Latin America. The additional oil expenditures that these four regions had to pay to OPEC were calculated. This was folowed by a derivation of estimates for the total grants disbursed by OPEC to the four regions. The results were then compared to the additional costs for imported oil previously derived. It was found that the additional costs for imported oil exceeded the benefits derived from the ODA of the OPEC capital-exporting countries for the Middle East, Asia and Latin America. In the case of Africa, however, the benefits more than equaled the costs. In conclusion, it was recommended that the area of joint ventures could provide excellent opportunities for the OPEC capital-exporting countries and the OIDCs to explore. However, before joint ventures between the OPEC capital-exporting countries and the OIDSs become an attractive option for channeling OPEC surpluses, there need to be intensive research in making such a co-operation feasible in the future.

The OPEC members have experienced wide fluctuations in their trade balances. This can be attributed to several factors: (1) heavy dependence of national income and export earnings on a single primary export-oil; (2) instability of price and world demand for oil; and (3) the exchange rate regime practiced in recent years. An exchange rate policy can be used to minimize the fluctuations in trade balance, given the changes in exchange rates of major international currencies. The purpose of this study is two fold; first, examine the effects of fluctuations in trade balance on the OPEC economies, and second, propose appropriate exchange rate regime for selected OPEC members. The study is divided into two parts. The first part demonstrates the impact of trade balance changes on national income and other macroeconomic variables using a Keynesian framework. The second part involves using conventional trade models to search for the appropriate exchange rate regime to minimize the fluctuations in trade balance of each selective country. The study's findings are: first, fluctuations in trade balances had negative effects on the economics of Algeria, Kuwait, Libya, Saudi Arabia, and the United Arab Emirates. Second, the current exchange rate regime of no sample country is optimal in minimizing trade balance fluctuations. Third, in contrast to expectations, U.S. dollar peg did not stabilize the trade balance of any OPEC member. Finally, the results show that the sample OPEC economies could have enjoyed faster - though with different degree - economic growth if they had pegged their currencies to the derived optimal exchange rate regime. These optimal exchange rate regimes are: the SDR for Algeria and the United Arab Emirates, the purchasing power parity for Libya and Saudi Arabia, and the real Yen for Kuwait.

The author examines the Organization of Petroleum Exporting Countries (OPEC) behavior by examining the strategic effects of of some of the decisions made by some of its core producers. The paper provides the theoretical background for fairness factors and degrees of fairness. A section is devoted to the estimation and validation of importance weights. Decisional efficiency measures are discussed and policy recommendations are given. 28 refs., 5 tabs.

A forecasting system is developed for determining future imports of real goods and services by OPEC members. The forecasting system permits development of alternative forecasts as better and more accurate information becomes available. The information base of each OPECcountry may be modified to generate different projections regarding future oil revenues.

Excess capacity brought on by rapidly rising oil production from outside the Organization of Petroleum Exporting Countries, coupled with stabilization of output from the Commonwealth of Independent States, will hamper OPEC`s efforts to balance the oil market in 1996. World demand for oil is projected to move up sharply. But non-OPEC output will increase even more, challenging OPEC to reduce production quotas. This paper reviews data on supply, demand, and production from these non-OPECcountries and the overall effects it will have on OPEC operations and costs.

OPEC's cuts in light crude prices are credited with calming oil market jitters and for saving consuming countries money. Non-OPEC North Sea, Mexico, and other oil exporters, accompanied by OPEC member Venequela in the case of its very heavy crudes, will be reacting individually to economic imperatives, and will be factors in the updated OPEC pricing structure. Citing Energey Detente interviews on spot and futures markets, the author compares value components of both heavy and light crudes and some of the dynamics involved in world oil prices. He develops a scenario of stabilized or reduced heavy oil prices that could stop the erosion of light oil prices and help to stabiliize the overall world oil market. 2 figures.

Several non-OPECcountries, and sometimes elements within countries, have been in dialogue with OPEC about oil market supply, demand, and pricing for the past few years. Recently, some have attended OPEC meetings as observers for the first time. Economists have asked, Will this strengthen OPEC make it into a true cartel Is free oil marketing threatened In this issue a remarkable paper addresses the evolution of relationships between OPEC and non-OPEC producers. This issue also presents the following: (1) ED refining netback data series for the US Gulf and West Coasts, Rotterdam, and Singapore as of July 7, 1989; and (2) ED fuel price/tax series for the countries of the Western Hemisphere, July 1989 edition. Includes paper by John Roberts, OPEC and non-OPEC Relations, March 1989. 2 figs., 5 tabs.

Since interpretations of past and future oil price patterns depends on the model chosen, the author tests and compares alternative theories of OPEC as a first step in validating the choice on any one model. The results show that among OPECcountries, the partial market-sharing cartel model is the only model not rejected by at least some of the 11 members and gives the best explanation of production. In comparison with 11 non-OPECcountries, the competitive model could not be rejected for 10 of the 11 non-OPEC producers. This raises the question of why, if OPEC is a cartel, Friedman's predictions have not come true, and introduces new questions for future research. 19 references, 3 tables.

Since the 1973 oil price jump there has been considerable interest in the Organization of the Petroleum Exporting Countries (OPEC) and its role in the international oil market. However, most of the literature on this subject is mainly concerned with either a time-control problem in which the optimality and implication of certain market behavior is analyzed or a simulation of the oil market assuming a particular market behavior by OPEC members. Our objective in this preliminary research is to present a unified framework in which we construct models of viable alternative market behaviors for OPEC members assuming profit-maximization behavior. Each model will be specified as a system of nonlinear simultaneous equations, and for a particular functional forms specification, we present the estimates of the first two models considered.

3 of 17 3 of 17 Notes: After declining in 1999 due to a series of announced production cuts, OPEC 10 (OPECcountries excluding Iraq) production has been increasing during 2000. EIA's projected OPEC production levels for fourth quarter 2000 have been lowered by 300,000 barrels per day from the previous Outlook. Most of this decrease is in OPEC 10 production, which is estimated to be 26.5 million barrels per day. EIA still believes that only Saudi Arabia, and to a lesser degree, the United Arab Emirates, will have significant short-term capacity to expand production. EIA's forecast assumes that OPEC 10 crude oil production will decline by 400,000 barrels per day to 26.1 million barrels per day by mid-2001. Iraqi crude oil production is estimated to have increased from 2.3 million

This book discusses about OPEC and the world oil situation. The author contends that OPEC's failure to develop pricing formulas sensitive to fluctuations in the international oil market has made them highly vulnerable.

OPEC's direction for the future is discussed in this article. Some points that will guide OPEC's thinking are: OPEC is still not certain of its oil's share in the energy market, OPEC will allow its unsolicited role as residual supplier to become the stabilizing factor in the oil market, and OPECcountries will continue to develop an integrated international industry, with the principal feature of this strategy being the need of OPEC's national oil companies to optimize crude oil production, refining and transporting operations by using overseas refining and product distribution networks. Issues are discussed that relate to a newly planned long-term strategy, including: protecting the organization's cohesion beyond 2000; increasing their oil and gas resource bases through aggressive exploration at home and abroad; production planning and quota management of demand increases in the market; price administration along previously agreed-upon market shares; avoidance of conflicting political questions other than oil issues; and avoidance of military issues within OPEC. OPEC members are moving from an investment strategy aimed at conserving and protecting the purchasing power of their oil revenues to one of increasing the value of that oil.

During the 1970s, members of the Organization of Petroleum Exporting Countries (OPEC) increased the price of their oil exports by 2000% in nominal terms. The ability of OPECcountries to increase the economic and other benefits they drew from each barrel of oil was a familiar theme of that decade. However, recent developments in the world oil market may not be so encouraging for OPEC. From 1979 to 1983, demand for OPEC crude oil decreased by almost 45%, or from 30.9 to 17.5 million barrels per day (mbd). Despite this dramatic decrease, the news on the price front has not so far been that bad for OPEC. The average OPEC oil price, which had increased from $1.80/bbl (barrel) in 1970 to $36/bbl by 1980, declined to $29/bbl by 1983. OPEC has thus defied many experts by managing to avoid a price collapse. Not surprisingly, these developments have raised arguments about the nature of OPEC and how it operates. OPEC has been characterized variously as a very tight cartel and as a loose and ineffectual organization. This paper tries to shed some light on OPEC, and especially on how the economic development objectives of influential OPEC members affect their oil policies.

The OPECcountries have been a significant source of aid for the developing countries since 1973. They have set up a large number of development aid institutions. One of the most prominent of these, the OPEC Fund for International Development, marked its tenth anniversary last year. This book examines not only how the original vision of the OPEC Fund's founders has been translated into practice, but also looks at the whole spectrum of aid from OPECcountries. It shows how OPEC aid is a unique phenomenon in the history of development co-operation. It discusses the effects of the development aid distributed by the collective agencies and by autonomous member states. It also describes how OPECcountries, apart from providing development assistance, have aimed at adopting a wide and innovative approach to the problems of developing countries. The book addresses a range of seminal issues of development - the scope for South-South Co-operation, the problems of North-South Dialogue and the implications of Third World debt.

Oil production from the Organization of Petroleum Exporting Countries and non-OPEC regions has undergone four major phases of change in relation to oil price since 1960. Patterns visible in those phases offer an indication of world-wide production trends in the future. These four phases are described. Overall, demand for oil during 1960--93 has increased from around 20 million b/d in 1960 to as high as 65 million b/d in 1993. The consensus among energy analysts and forecasters is that this demand growth will continue. This will encourage OPEC and non OPEC producers to invest in the oil industry to meet future demand growth. However, since the resource base is larger in OPEC than in non-OPEC areas, and since the cost of developing these resources is lower in OPEC than outside OPEC, the future call on OPEC oil to meet growth in demand will undoubtedly be substantiated as production from the non-OPEC region diminishes or at best stagnates. The paper discusses OPEC production trends, non-OPEC production, natural gas liquids, future production scenarios, and future constraints on production.

Sample records for opec countries thousand from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "opec countries thousand" from the National Library of EnergyBeta (NLEBeta).
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In the second half of 1988 Opec member nations began on cheating on their quotas. The resultant 11% surge in Middle Eastern production propelled world output to an average of 58.5 MMbopd. This paper presents an analysis of major oil producing countries of the world and a listing, by country, of world crude oil and condensate production for 1987 and 1988.

To meet projected world oil demand, almost all members of the Organization of Petroleum Exporting Countries (OPEC) have embarked on ambitious capacity expansion programs aimed at increasing oil production capabilities. These expansion programs are in both new and existing oil fields. In the latter case, the aim is either to maintain production or reduce the production decline rate. However, the recent price deterioration has led some major OPEC producers, such as Saudi Arabia and Iran, to revise downward their capacity plans. Capital required for capacity expansion is considerable. Therefore, because the primary source of funds will come from within each OPECcountry, a reasonably stable and relatively high oil price is required to obtain enough revenue for investing in upstream projects. This first in a series of two articles discusses the present OPEC capacity and planned expansion in the Middle East. The concluding part will cover the expansion plans in the remaining OPECcountries, capital requirements, and environmental concerns.

This paper reports that low crude oil prices and economic tough times in industrial countries cause a lean 1991 for members of the Organization of Petroleum Exporting Countries. OPEC's 1991 annual report the member countries reported an overall loss of $12 billion in 1991 on oil revenues that fell 16.2%. Iraq and Kuwait were not included because of their unusual circumstances in the wake of the Persian Gulf war. Reduced oil revenues reflected a slide to $18.66/bbl in 1991 from $22.26/bbl in 1990 for the average price of OPEC basket crudes. As of last June 5 OPEC's basket crude price has averaged only $17.42/bbl this year, OPEC News Agency (Opecna) reported. First quarter 1992 prices averaged $16.77/bbl, compared wit $19.31/bbl in fourth quarter 1991. The average price jumped 52 cent/bbl the first week in June this year to $19.93/bbl, bouyed by Saudi Arabia's move at the end of May to shift its policy from price moderation to one in favor of higher prices, Opecna the. OPEC members increased production 1% in 1991 to an average 23.28 million b/d in spite of negligible production from Iraq and Kuwait and reduced production from Qatar.

The OPEC oil price increases of the 1970s and their economic and political effects on the oil-importing and oil-exporting countries have called attention to OPEC as an actor in world politics. This study examines the internal and external aspects of OPEC in light of the following hypotheses: (1) the bargaining power of the major oil companies has been curtailed in favor of OPEC members; (2) potential economic differences and political conflicts among OPEC members raise no real threat to the survival of OPEC; (3) development of alternative sources of energy will not likely restrain OPEC's active role in world politics; and (4) the unbridled power of OPEC to increase oil prices will likely be restrained by the effects of these increases on oil-importing countries. In addition to testing these hypotheses, this study attempts to trace OPEC's origin and explores the role of Saudi Arabia as the residual OPEC supplier. Since the OPEC revolution of October 1973, numerous academic works and press reports have been published on OPEC. The author depended heavily on these sources. In addition, information supplied by some prominent energy institutions during a research trip to Vienna, Austria, and Washington, DC was also used. The findings of this study tend to support the preceding hypotheses.

4 4 Notes: With a background of some weakening demand from weakening economies (being pushed lower by high crude oil prices), OPEC has shown not only a a reluctance to increase production any time soon, but has actually decreased production. OPEC has attempted to reduce production by 3.5 million barrels per day so far this year. The last of these cuts is not to occur until September, which will affect consuming countries the most over the upcoming winter. Tightness in both European (Brent price) and Asian (Dubai price) markets are reflected in the recent strength seen in the marker crude oil for these regions. But with the effect of the 2nd OPEC production cuts just taking effect and the effect of the 3rd production cut yet to come, U.S. crude oil stocks are

The OPEC states have been the only group of developing countries to acquire enough financial resources to assist other less-fortunate developing countries and to have an impact on international economic, financial, and political relations. This study can help to determine the degree to which common Third World goals affected the behavior of OPEC members, to establish the similarities and differences in their behavior as compared with that of the developed countries, and to illustrate the difficulties faced by developing countries in trying to act upon the international system and achieve their own national objectives. Separate chapters cover the historical framework of OPEC, and the politics, nature, and channels of OPEC aid. Case studies examine the policies of Iran and Saudi Arabia. 400 references, 101 tables.

Obtaining capital is a critical element in the production expansion plans of OPEC member countries. Another issue that may impact the plans is the environmental taxes that may reduce the call on OPEC oil by 5 million b/d in 2000 and about 16 million b/d in the year 2010. This concluding part of a two-part series discusses the expansion possibilities of non-Middle East OPEC members, OPEC's capital requirements, and environmental concerns. Non-Middle East OPEC includes Algeria, Gabon, Indonesia, Libya, Nigeria, and Venezuela.

For the past 5 years the Organization of Petroleum Exporting Countries has been telling oil producers around the world that it can no longer carry the burden of trying to balance supply and demand without outside help. Non-OPEC exporters have, on several occasions, examined the benefits of sharing the burden of production cuts, but rightly have been nervous of close cooperation with an unpredictable and undisciplined competitor. Cooperation will certainly depend on OPEC reaching its own production cutting agreement. That must be done in a way that given non-OPECcountries confidence that any new production and pricing pact will not fall apart during the first half of next year. OPEC exports to the developing world have been trimmed by the advent of new producers. In most of these countries local production only eliminates or reduces imports. Few are in the class of North Yemen where the initial flow could meet local demand and provide a surplus for export.

One would expect a carter to curb production in order to raise prices of its product as well as to share the market among its members. The Organization of Petroleum Exporting Countries (OPEC) is no exception, and blamed for the quadrupling of crude oil prices in 1974. However, OPEC could not prevent prices from falling in the 1980s, even after it adopted output rationing in 1982. The author addresses the question of whether OPEC was ever able to increase market price of oil by curbing production, or simply took advantage of high prices caused by political problems and conflicts between members. 17 refs., 1 fig.

Energy security policy continues to be haunted - at least within the halls of government - by fears of OPEC`s potential ability to curb oil supplies to the United States or to unexpectedly raise prices to economy-damaging levels. OPEC continues to exert (mainly psychological) influence in excess of its market role. Becaue OPEC`s continued existence skews the energy policy debate in the United States and in other oil-consuming countries, and because it complicates otherwise constructive relations between the US and the Arab world, the Clinton administration should confront OPEC and America`s energy security concerns directly. In its forthcoming energy-policy plan, the administration could declare the abolition of OPEC to be a goal of US foreign and trade policy. As a countermeasure, US energy policymakers should abandon the inflammatory frame of reference of energy security. No practical purpose has been served domestically or internationally by adherence to a policy that in the end has simply raised the economic cost of a vital commodity.

This paper examines OPEC pricing and output strategies, both to provide an understanding of OPECs unwise price doubling in 1979-80 and also to analyze what strategy might serve it best for the future. We focus on the unavoidable uncertainty regarding the underlying parameters that characterize the world oil market (price elasticities, income growth rates), and the sensitivity of discounted OPEC revenue to changes in these parameters, for various pricing strategies. In 1979-80, OPEC chose a high-price strategy, which could have yielded good results (like many other price-paths) if the market`s underlying parameters had been more favorable. But the price elasticities of demand and non-OPEC supply were much higher than anticipated, so that OPEC did very poorly-not only in absolute terms, but also relative to what it could have achieved if it had set its price more cautiously. We search for a robustly optimal strategy for OPEC in the future, which will serve it well relative to other strategies, regardless of the true parameter values underlying the market (within some plausible range). We conclude that OPEC`s interests will be served best by a policy of moderate output growth, at a rate no faster than that of world income growth. This will require that OPEC slow its rate of output growth since 1985, cutting it at least in half. Slowing its output growth will allow OPEC gradually to regain the market share lost after its disastrous 1979-80 price doubling, but without jeopardizing its revenue, as might a policy of more rapid increases in output. This will yield a consistently good result for OPEC, relative to alternative strategies, over a fairly wide range of demand and supply conditions. 53 refs., 7 figs., 3 tabs.

Factors that have promoted the formation of OPEC and the dynamics of its confrontation with the multinational oil companies (MNOCs) are analyzed. The rise of OPEC is examined from the perspective of the growing literature on non-state actors within the international system. The central hypothesis is that OPEC emerged as a collective-bargaining instrument, but has become a non-state actor that impacts upon as well as serves the policies of its member-states. As a corollary it is assumed that the politics of oil in the 1960s can best be understood as the clash of two non-state actors - OPEC and MNOCs, both involved in changing relationships with their home governments. This study utilizes the non-state actor approach to explain the growing importance of OPEC within the international political and economic system. The study concludes that although OPEC did make structural changes in the international oil industry previously concentrated in the hands of the MNOCs, it did not press to the point that the international economic system was threatened. Moreover, OPEC proved to be a responsible international actor in a number of specific respects. It attempted to provide financial aid to those Third World countries adversely affected by the energy crisis of 1973-1974. OPEC members recycled their financial wealth in the international monetary system. On occasion it restrained some members from pushing for higher prices. This benefitting the Western industrial oil-consuming nations. As a result OPEC served as a stabilizing factor in the international oil industry.

This paper reports that the Organization of Petroleum Exporting Countries has ducked the question of reestablishing quotas despite the looming prospect of a second quarter oil price slide. OPEC ministers meeting in Vienna late last month approved continuing free-for-all production in the first quarter and ordered the ministerial monitoring committee to tackle the question of second quarter production levels when it meets in Geneva Feb. 12. Oil markets responded to the lack of action by dropping futures prices.

More than ever before, the Organization of Petroleum Exporting countries is faced with a sophisticated and complex market, a highly charged environmental movement, and new calls for energy conservation and alternative fuels. It has lost a member, Ecuador. However OPEC's future evolves, it will be challenged to change. As non-OPEC oil production continues to decline, OPEC's future could brighten considerably. Natural gas presents a great opportunity to OPEC as many industrial and developing countries utilize gas more extensively because of price and environmental advantages. Whether oil or gas, OPEC will require large amounts of capital to satisfy the world's appetite for petroleum. The loss of Ecuador seems a setback to the Organization, but there are burgeoning Soviet Republics with large reserves in need of development assistance to tap into their natural resources more effectively. On the demand side, many companies are seeking hospitable recipients for their exploratory activities and investment capital. OPEC's role might somehow include the embrace of these developments for the betterment of its individual, unique members.

Sample records for opec countries thousand from the National Library of Energy Beta (NLEBeta)

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An ongoing compilation of country energy profiles. EIA maintains Country Analysis Briefs (CABs) for specific countries that are important to world energy markets, including members of the Organization of the Petroleum Exporting Countries (OPEC), major non-OPEC oil producers, major energy transit countries, major energy consumers, and other areas of current interest to energy analysts and policy makers.

Data by country, region, and commercial group (OECD, OPEC) for 215 countries including production, consumption, U.S. oil imports and CO2 emissions. Forecasts for selected countries for total oil production and consumption. Analysis by country (Country Analysis Briefs)

Although OPEC is in a crisis, the world economy will remain dependent on oil, and most importing countries will continue to be largely dependent on OPEC, especially on its Persian Gulf sources of supply, during the 1980s. The concept of the OPEC multiplier explains the pattern of oil production and demand reduction, and is central to understanding the future evolution of the world oil market. The impact of irreversible and reversible conservation and economic recession varies from country to country and is difficult to quantify. This analysis attributes most of the short-term reductions in energy use to the recession, but also notes that all of the reductions in world primary consumption between 1980-1983 have been borne by oil. The author explains the OPEC multiplier effect in this context, and shows how even a small percentage change in world economic activity and primary energy consumption leads to a larger percentage change in world demand for OPEC oil. 2 figures, 4 tables.

The Middle Eastern members of the Organization of Petroleum Exporting Countries must plan for huge increases in oil production capacity yet wonder whether markets for the new output will develop as expected. With worldwide oil consumption rising and non-OPEC output likely to reach its resource limits soon, OPEC member countries face major gains in demand for their crude oil. To meet the demand growth, those with untapped resources will have to invest heavily in production capacity. Most OPEC members with such resources are in the Middle East. But financing the capacity investments remains a challenge. Some OPEC members have opened up to foreign equity participation in production projects, and others may eventually do so as financial pressures grow. That means additions to the opportunities now available to international companies in the Middle East. Uncertainties, however, hamper planning and worry OPEC. Chief among them are taxation and environmental policies of consuming-nation governments. This paper reviews these concerns and provides data on production, pricing, capital investment histories and revenues.

The dramatic increase in non-OPEC oil production that has occurred since the fuel crises of the seventies was accelerated by the subsequent increases in oil prices on world markets. Current moderate world prices are attributable to increased supply in the last decade from these countries. Among those nations whose production has more than doubled since 1973 are China, Mexico, the UK, Norway, Egypt, India, Oman, Brazil, Colombia, Angola, and Syria. In this context, non-OPEC nations include the Communist oil-producing countries, since their ability to meet their own domestic demand has forestalled the day when they will compete for supplies on world markets. The prospect for continued growth in non-OPEC oil production is good. Prospects for additions to reserves continue to be bright in virgin exploration areas and semimature oil-producing provinces. Non-OPEC oil production may reach peak levels in the 1995--2000 time frame. However, production will be increasingly countered by growing demand, especially in South and Central America and Asia. It is almost certain that by the mid-nineties, competition for oil supplies in world markets will elevate the price of oil available from the well endowed OPEC nations. Supply disruptions as well may be in the offing by the turn of the century as surpluses on world markets disappear. 92 refs., 20 figs., 5 tabs.

Two large categories define the world's producing countries of crude oil andother liquid fuels (hereafter liquids): those that are members of theOrganization of the Petroleum Exporting Countries (OPEC) and those that areoutside that group (non-OPEC). This article takes a closer look at the lattercategory.

Since 1973 when Ecuador joined the Organization of Petroleum Exporting Countries, crude oil production increased by nearly half and domestic petroleum consumption has more than tripled. Oil's percent of Gross Domestic Product was just 3% in 1972, peaked at 17.3% in 1974, and has since declined to 11.71% in 1991. In 1992 the national perspective changed and found that OPEC membership was working against, not in favor of, economic growth. This issue addresses Ecuador's status change and its plans for its petroleum and economic future.

The design of any effective oil pricing policy by producers depends on a knowledge of the nature and complexity of supply responses. This book examines the development of non-OPEX oil reserves on a field-by-filed basis to determine how much of the increase in non-OPEC production could be attributable to the price shocks and how much was unambiguously due to decisions and developments that preceded the price shocks. Results are presented in eighteen case-studies of non-OPEC producers. This study will be of interest to economists and planners specializing in the upstream and to policy makers both in oil producing and consuming countries.

This paper reports that total crude oil production by the members of the Organization of Petroleum Exporting Countries rose to 23.26 million b/d in 1990 from 21.34 million b/d in 1989, despite the lost production from Iraq and Kuwait during the second half. Those two were the only OPEC members not recording production increases for the year. According to the annual statistical bulletin issued by the OPEC secretariat late last month, the value of total OPEC petroleum exports also jumped markedly, to $147.44 billion from $114.28 billion in 1989. This enabled the organization to end the year with an estimated current account surplus of $13.77 billion, compared with the 1989 surplus of $4.34 billion.

As OPEC Ministers Meet, Secretary Chu Stresses the Importance of As OPEC Ministers Meet, Secretary Chu Stresses the Importance of Energy Independence As OPEC Ministers Meet, Secretary Chu Stresses the Importance of Energy Independence March 15, 2009 - 12:00am Addthis Washington, DC - As OPEC ministers held a meeting in Vienna Sunday, U.S. Energy Secretary Steven Chu again stressed the need for energy independence and called for global cooperation on energy, economic and climate challenges. "While OPEC's actions are just one factor among many that go into the market price of oil, I'm pleased that there won't be further production cuts -- which could help to avoid oil price volatility," Secretary Chu said. "However, I continue to believe that we should stay focused on what our country can do to become energy independent -- ending our dependence on

OPEC and its pricing policies have been subjected to constant international attention as well as criticism since 1973. Consumers find OPEC behavior irrational, while OPEC tries to justify its policies as rational and in accordance with the realities of the international oil market. The focus of this study is to contribute toward an analytical and empirical work on OPEC pricing behavior, and highlight the various factors believed to affect the future oil policies of OPEC member countries. After a survey of literature on the theoretical framework of world oil models in general, and OPEC models in particular, a linear econometric model for pricing OPEC oil is formulated which is a supply-demand equilibrium model comprising of supply, demand, and inflation-rate functions. Estimation of the behavioral equations are carried out by Ordinary and Two-Stage Least Square estimators. Econometric results from the estimation and simulation of the model seem to indicate that OPEC's pricing behavior is market-responsive and may best be explained by employing the theoretical framework of market-equilibrium condition.

Prediction of OPEC's demise may be premature since the US and the industrial world continue their reliance on Middle East oil. US dependence on imported oil could increase with economic recovery and present OPEC with new opportunities to manipulate prices enough to discourage non-OPEC production and conservation. Analysts predict that a new and stronger OPEC may emerge unless the people are unwilling to delay their own development just to keep the West hooked on cheap oil. 1 figure, 1 table. (DCK)

08 08 1 February 2008 Short-Term Energy Outlook Supplement: Outlook for Non-OPEC Oil Supply Growth in 2008- 2009 1 Most oil market analysts, including EIA, have pointed to the slow growth in oil supply from countries that are not members of the Organization of the Petroleum Exporting Countries (OPEC) in recent years as a key cause of the current high oil price environment. The widening gap between growth in world oil consumption and non- OPEC oil supply has led to greater reliance upon production by OPEC and a drawdown in the Organization for Economic Cooperation and Development (OECD) commercial inventories. These conditions have contributed to upward pressure on world oil prices in recent years (see Why Are Oil Prices So High?, supplement to the November 2007 Short-

The Organization of the Petroleum Exporting Countries (OPEC) has gone through turbulent times since its inception in 1960. The decade of the 1970s represented the peak of its power; however, the 1980s and 1990s are characterized by the erosion of OPECs position. After a brief exposition of the principles of resource economics and their relevance to OPEC, we review oligopoly theory and its specific application to OPEC. A model of cartel behavior will then be presented and its relevance to OPEC will be emphasized. Our theory is that OPEC can use a trigger price strategy (a punishment phase when overproduction occurs, followed by a resumption phase of full compliance of the quota agreement) to stabilize output. An insurance policy scheme will be presented in combination with the trigger price strategy, the goal of which may improve the stability of OPEC. Finally, we shall show how the present organization may evolve over time into a much smaller entity by the late 1990s composed of the Gulf producers.

Sample records for opec countries thousand from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "opec countries thousand" from the National Library of EnergyBeta (NLEBeta).
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In this paper the authors review what has happened in world oil markets since the 1970s and examine the prospects for OPEC and world oil prices. The paper summarizes the data for the last two decades: by fuel, by product, and by region. It focuses on OPEC and its members, examining the differences in behavior between its members and non-OPEC producers. The authors find that OPEC is clearly still relevant, if no longer very powerful. Its members have collectively reduced output dramatically, in an unsuccessful attempt to defend the price increases. They examine the important institutional changes of the last two decades, in comparison with the industry's stability for much of the century. They suggest an interpretation of OPEC's current situation. The paper summarizes the outlook for OPEC and the world oil market over the next two decades.

This paper is a review of the lessons learned concerning OPEC. It includes: the history of the formation of OPEC, OPEC and the energy crisis of the 1970's, models of the cartel, and pricing and output (production) policies.

An ongoing compilation of country background information profiles. Country Analysis Briefs (CABs) for specific countries or geographical areas that are important to world energy markets are maintained, including members of the Organization of Petroleum Exporting Countries (OPEC), major nonOPEC oil producers (i.e., the North Sea, Russia), major energy transit areas (i.e., Ukraine), and other areas of current interest to energy analysts and policy makers.

An ongoing compilation of country background information profiles. Country Analysis Briefs (CABs) for specific countries or geographical areas that are important to world energy markets are maintained, including members of the Organization of Petroleum Exporting Countries (OPEC), major nonOPEC oil producers (i.e., the North Sea, Russia), major energy transit areas (i.e., Ukraine), and other areas of current interest to energy analysts and policy makers.

Middle-East expert Rustow traces the chain of events that placed economic power in an unstable region. He recounts how European imperialists acquired and surrendered their positions of domination, how nationalists such as Nasser and Qaddafi sought to manipulate the superpowers, and how leaders such as Sadat and Begin wrestled with war and peace. Meanwhile, the oil industry's Seven Sisters lost their preeminence as OPEC grew from a loose confederacy of oil shiekdoms into a cartel strong enough to shake the world economy. Rustow analyzes the confusion in oil-consuming countries that led to long gasoline lines one year and talk of an oil glut and OPEC's collapse the next. He puts into context Washington's uneven efforts to bring stability to the strife-torn Middle East. 221 references, 3 figures, 7 tables.

The East-West Center received a research grant from the US Department of Energy's Office of Policy, Planning, and Analysis to study the impact of lower oil prices on OPEC production capacity, on export refineries, and the petroleum trade. The project was later expanded to include balance-of-payments scenarios and impacts on OPEC domestic demand. The Department of Energy requested that the study focus on the Persian Gulf countries, as these countries have the largest share of OPEC reserves and production. Since then, staff members from the East-West Center have visited Iran, the United Arab Emirates, and Saudi Arabia and obtained detailed information from other countries. In addition, the East-West Center received from a number of large international oil companies and national governments valuable information on OPEC production capabilities. In order to safeguard the confidential nature of this information, these data have been aggregated in this report. The East-West Center considers the results presented to be the most up-to-date information and analysis available today. This report also provides a major reassessment of the export refining and economic competitiveness of Middle East refineries. As pioneers of the research on OPEC export refineries, the East-West Center has fully reevaluated the performance and outlook of these refineries as of the present. 21 figs., 20 tabs.

Suppose that both OPEC and the West possess stocks of oil which can be extracted at constant and identical cost. Consumption takes place only in the West. Suppose, hypothetically, that the West behaves as a single agent and, more realistically, that OPEC does also. Each agent makes a strategic choice of the pattern of exploitation over time of its own reserve. The Nash equilibrium obtained is ''robust'' in that it is also a ''Stakelberg equilibrium'' in which each agent is ''right for the right reason.'' Further, the equilibrium obtained is equivalent to that obtained when Western oil companies constitute a competitive fringe to the OPEC monopoly. 4 figures, 12 references

A questionnaire was designed and mailed to OPEC members, 60% of whom responded. Their answers, combined with the formation history of the Organization and its eventful life in the past decades were studied and treated in the descriptive historical format. In the first chapter the problem was defined and its background was described. This chapter formulated the research question as: Will OPEC in the opinion of OPEC ministers and directors continue to be an effective organization in the future as it has been in the past. What is the future of OPEC. The second chapter reviewed the literature. Two hypotheses were considered in this study: (1) Hypothesis 1 stated, OPEC members will continue to market their oil, determine proper price for it, and set fair quotas for each member as effectively in the future as in the past. (2) Hypothesis 2 stated, OPEC members will face difficulties in marketing their oil, determining proper oil prices, and setting fair quotas for each member; and the Organization will be weakened or totally destroyed in the future due to the conflicts among members and international pressure. Responding OPEC officials believed that OPEC is an effective organization and will remain so in the future. Their views were in support of hypothesis one. However, based on consideration of other factors, the research concluded that in the long run OPEC will most likely face difficulties in maintaining its solid and powerful operation and marketing strategies.

After 1973, oil consumption stagnated worldwide. Non-OPEC output increased, mostly in Alaska, Mexico, and the North Sea, but not because of the price rise. The cartel nations had to assume the whole burden of cutting back ...

Global reserves of crude oil remain at 1 trillion bbl, according to OGJ`s annual survey of producing countries. Significant gains are in Brazil, Colombia, Congo, Egypt, Libya, Nigeria, Oman, and Papua New Guinea. Decreases were reported by Indonesia, Norway, the U.K., Iran, Canada, Mexico, and the US. Natural gas reserves slipped to 4.9 quadrillion cu ft. The major production trend is a lasting surge from outside of OPEC. This year`s Worldwide Production report begins with a detailed analysis of this crucial development by an international authority. This article discusses the OECD outlook by region and the turnaround in production in the former Soviet Union.

Rising oil supplies in 1997 will relax some of the market tightness that drove up crude prices last year. Worldwide demand for petroleum products in 1996 rose faster than anticipated and faster than supply from outside the Organization of Petroleum Exporting Countries. This increased demand for OPEC oil and pushed up prices for crude. At year end, the world export price of crude was up more than 25% from the same period a year earlier. Market conditions will change in 1997. While worldwide economic growth will continue to boost demand for energy and petroleum, non-OPEC petroleum supply will grow even more. Increases in North Sea and Latin American production will help boost non-OPEC output by 1.9 million b/d. And revenues from 1996 production gains will make additional investment possible in exploration and production. The paper discusses world economic growth, world oil demand, worldwide supply, supply outlook, prices and international drilling.

OPEC's ability to raise prices is evaluated with a model that projects the supply and demand. As part of the model, a new methodology to forecast for the rate of production by non-OPEC nations is developed. A literature review of techniques for estimating oil supply and annual rates of production indicates a new methodology is needed. The new technique incorporates the geological, engineering, and economic aspects of the oil industry by synthesizing curve fitting and econometric techniques. It is used to analyze data for eight regions for non-OPEC oil production: the lower 48 states, Alaska, Canada, Mexico, non-OPEC South America, Western Europe, non-OPEC Africa, and non-OPEC Asia. OPEC's ability to raise prices is examined by tracking the percentage oil US oil demand supplied by imports, the portion of oil demand in Western Europe supplied by local production, the percentage of WOCA oil demand supplied by OPEC and Real OPEC revenues. Results of the model indicate that OPEC can raise oil prices in the early 1990s. OPEC can raise and sustain oil prices near $25 (1982 dollars). Higher oil prices ($35) are not sustainable before 2000 because reduced demand and increased non-OPEC production shrink OPEC revenues below acceptable levels. After 2000, $35 prices are sustainable.

EIA assumes in its base case that OPEC 10 production averages about EIA assumes in its base case that OPEC 10 production averages about 0.6 million barrels per day less in the 1st quarter of 2001 than was produced in the 4th quarter of 2000. This is based on the assumption that beginning in February 2001, OPEC 10 production is 1 million barrels per day less than the estimate for December 2000. Over the course of the past year, worldwide oil production has increased by about 3.7 million barrels per day to a level of 77.8 million barrels per day in the last months of 2000. After being nearly completely curtailed in December 2000, EIA's base case assumes that Iraqi oil exports only partially return in January. By February, EIA assumes Iraqi crude oil production reaches 3 million barrels per day, roughly the peak levels reached last year.

The oil shocks of the 1970s, initiated by the first Arab oil embargo in 1973, stunned the industrialized world. The Organization of Petroleum Exporting Countries (OPEC) controlled a resource that was vital to the national well-being and national security of America and its allies. In the United States, gas lines formed as Americans waited for increasingly costly and scarce fuel. Europeans realized that the energy shortages, which they originally believed to be short-term, might permanently change their lives. This dissertation places the historical debate about the effectiveness of domestic and foreign energy policy within the framework of the global transformations taking place at the end of the twentieth century. The collapse of the Bretton Woods system in 1971 and the advent of petrodollars on world currency markets, the emergence of the Soviet Union as an oil exporter, the rise of OPEC as a regulator of oil prices and the consequent decline in the power of the seven major multinational oil companies, and the growth of a global environmental movement, all contributed to the shifting interplay of forces confronting the United States and its allies in the late twentieth century and shaped the debate over national and international energy policy. America's efforts to work with its allies to develop a cohesive national and international energy policy fell victim to the struggle between political autonomy and interdependence in an era of globalization. The allied response to the Iranian hostage crisis and the Soviet invasion of Afghanistan highlighted these conflicts within the alliance.

6 6 Notes: EIA assumes in its base case that OPEC 10 production averages about 0.6 million barrels per day less in the 1st quarter of 2001 than was produced in the 4th quarter of 2000. This is based on the assumption that beginning in February 2001, OPEC 10 production is 1 million barrels per day less than the estimate for December 2000. From the fourth quarter of 1999 to the 4th quarter of 2000, worldwide oil production increased by about 3.8 million barrels per day to a level of 77.9 million barrels per day. After being sharply curtailed in December and January, EIA's base case assumes that Iraqi oil exports return closer to more normal levels in February. By the second half of 2001, EIA assumes Iraqi crude oil production reaches 3 million barrels per day, roughly the peak levels

6 of 26 6 of 26 Notes: When keeping an eye on petroleum prices, we watch inventories closely. Recall that inventories measure the balance between supply and demand, and thus signal pressure on stocks. For crude oil, world petroleum inventories are low, and Iraq is probably the largest wild card that could impact prices in the short term. While OPEC will continue to adjust production to support the price of crude oil, the world economy may work against the organization. A slower economy means lower demand, and more OPEC production cutbacks to support prices. We are almost through this winter, so for distillate and propane, we will be watching how low stocks are at the end of the winter, which will indicate how much extra build is needed to start next winter in good shape.

9 9 Notes: EIA assumes in its base case that OPEC 10 production averages about 0.6 million barrels per day less in the 1st quarter of 2001 than was produced in the 4th quarter of 2000. This is based on the assumption that beginning in February 2001, OPEC 10 production is 1 million barrels per day less than the estimate for December 2000. From the fourth quarter of 1999 to the 4th quarter of 2000, worldwide oil production increased by about 3.7 million barrels per day to a level of 77.8 million barrels per day. After being sharply curtailed in December 2000, EIA's base case assumes that Iraqi oil exports only partially return in January. By February, EIA assumes Iraqi crude oil production reaches 3 million barrels per day, roughly the peak levels reached last year.

Sample records for opec countries thousand from the National Library of Energy Beta (NLEBeta)

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OPEC producers, individually or collectively, often make statements regarding the “fair price ” of crude oil. In some cases, the officials commenting are merely affirming the price prevailing in the crude oil market at the time. In many cases, however, we document that they explicitly disagree with the contemporaneous futures price. A natural question is whether these “fair price ” pronouncements contain information not already reflected in market prices. To find the answer, we collect “fair price ” statements made between 2000 and 2009 by officials from OPEC or OPEC member countries. Visually, the “fair price ” series looks like a sampling discretely drawn (with a lag) from the daily futures market price series. Formally, we use several methodologies to establish that “fair price ” pronouncements have little influence on the market price of crude oil and that they supply little or no new news to oil futures market participants.

This paper reports on a relatively strong oil market emerging from the Persian Gulf war according to an Opec spokesperson. Opec is expected to remain a viable force, perhaps more cohesive than before, no matter what happens to Kuwait and Iraq.

According to the author, 1988 proved again that Opec's ability to control world oil markets in tenuous at best. Oil analysts had trouble determining direction of the cartel, with forecasts showing a wide range of possibilities for oil prices. In the last half of the year, concern about a long-term collapse in oil prices sent many U.S. producers to the sidelines with drilling activity languishing at 911 rigs running at the end of November. Most active rigs were looking for natural gas, further complicating U.S. oil reserve replenishment. Opec gradually lost control of world oil markets in 1988. Opec impotence will continue unless non-Opec producers cooperate to cut output, global oil demand increases significantly, or members finally begin to seriously address the critical issue of adhering strictly to production quotas. The author discusses the status of OPEC and U.S. petroleum in regard to current U.S. and worldwide economic conditions.

Throughout the twentieth century, major oil companies have been the object of intense scrutiny, suspicion, and mistrust. In their heyday before World War II, they controlled over 90 percent of the world oil production. As the Second World War was coming to an end, it became clear that the United States would not longer continue to be a major exporter of oil and that the Middle East would be called upon to meet the rising needs of the world. In the 1960s and 1970s, the Middle Eastern oil-producing countries (OPEC) wrested more power from the major Western companies either through sweeping new agreements or through nationalization movements. Oil power catapulted these Third World countries into the international arena and into positions of great wealth and influence. Just as oil has enabled nations to accumulate wealth and power, it has also proved that it is a prize that can be overvalued and can lead to a country's demise. Oil imports are impairing or threaten to impair the national security of the United States. The U.S. finds itself more vulnerable to political or economic blackmail because of its reliance on foreign oil supplies.

This paper highlights some of the conceptual and methodological problems involved in the compilation of statistics on economic aid to developing countries. Figures from the OECD Development Assistance Committee (DAC) and the Organization of Petroleum Exporting Countries (OPEC) member states are compared to point up problems in the interpretation of the statistics. One area of concern is the listing of funds provided by financial institutions located in the DAC countries. OPEC capital often forms a majority of such institutions; yet the figures do not measure the OPEC share of the capital nor its share of the risk borne in its provision of the loans. Another area of concern is bond purchases and subscriptions to syndicated loans by OPEC financial institutions in the financial markets of DAC countries. The flows in these instances, originating from OPEC sources, are merely channeled through the DAC financial markets. Based on origin and risk (borne exclusively by OPEC sources) these flows should validly be included as OPEC flows, the author says. Also of major concern are the loan and bond purchases made by financial institutions in the DAC countries from the proceeds of OPEC deposits. Although the risk is borne by the financial institutions, OPEC surplus funds are the original source. The original source should be correctly identified, the author feels, rather than be included in the figures on DAC nonconcessional flows. (SAC)

The strong US dollar insulates most of OPEC from painful losses in revenue despite the well-publicized OPEC price cut of March 1983. The steady rise of the dollar has largely reversed the impact of the $5-per-barrel cut in the marker crude oil price. This has helped to reduce internal pressures for further prices cuts. This link is due to three factors: (1) oil is denominated in dollars; (2) OPEC pays for most of its imported goods and services with other currencies; and (3) the dollar has risen 20-49% against most trading currencies since March 1983.

The above analysis does not constitute a forecast of non-OPEC supply. But the picture that emerges from it is so different from the conventional wisdom of the past 10 to 15 years, we believe it deserves careful consideration. There is little evidence that the general historical pattern of regularly finding sufficient oil to meet world demand has changed, or is about to change. Without a clear indication that they have done so, OPEC`s planners should expect more non-OPEC production for the foreseeable future. We all know that higher prices have provided incentives to explore at least the more attractive of the potential targets. But more stable prices, even at low levels ($15 to $18 per barrel) and better technologies will induce more diverse oil suppliers.

The problem of determining the achievable rate region for an arbitrary source network with one "helper" is still unsolved. Csiszár and the author have shown that it reduces to the one-parameter entropy characterization problem (OPEC), treated in ...

We show that standard statistical tests of OPEC behavior have very low power across a wide range of alternative hypotheses regarding market structure. Consequently, it is difficult, given the current availability and ...

This research investigates the nature and strategy of international cartels to determine both what constitutes a cartel and the causes of OPEC's longevity. To achieve that end, the study examines the political and economic background that led to the Organization's creation and determined its evolution. The study analyzes the factors underlying changes in the oil market and in the outlook of the oil-producing nations for the purpose of drawing some conclusions concerning the manner in which the contemporary, quasi-cartelistic OPEC system operates, and to set out the far-reaching implications of its emergence. What were the circumstances which have thus far favored cartelization and sustained the cohesiveness and power of OPEC. It is argued that links within OPEC have been forged by a mixture of politics and economics. Economic considerations created OPEC and maintained it through its early years, but political necessity and solidarity helped later to cement the various divergent blocks together. Contrary to expectations, political conflicts among the major members failed to cripple or destroy OPEC. Political links helped override economic disagreements, while economic links helped overcome political ill will.

Formed in 1960, the Organization of the Petroleum Exporting Countries (OPEC) became a key participant in the international oil industry after the so-called oil shock in the early 1970s. OPEC's power in world trade increased tremendously during the 1970s and, as oil prices skyrocketed, literature on OPEC proliferated. Although OPEC's demise has often been predicted since its creation; it has, however, endured. Thus study examines OPEC from distinct vantage points: those of regime theory, oligopoly models, and cartel theory. The aim is to gain insight into the activities of the organization as a whole and in terms of the behavior of one of its members, the Government of Nigeria. The objective is to ascertain which of these theories, or aspects of the theories, best describes OPEC's activities and Nigeria's actions as a member. The review of OPEC and Nigeria's role in its demonstrates that OPEC is difficult to classify. It is more than anything, a fluid coalition of Third World countries seeking to improve their national economies by ensuring better prices for crude oil, their chief export product; and helping other Third World countries focus global awareness on the chronic political and economic inequities in the international system. Therefore, OPEC and Nigeria's role is best explained by coalition theory.

This paper reviews the main events in the world oil market since 1973 and some major explanations as to what happened and why (Section I). Then there is a discussion of some projections for the next two decades and of some implications of various theories about OPEC's decisionmaking process (Section II). Section III summarizes what we have learned about modeling OPEC and the world oil market. This includes: the dominant theoretical approach based on the wealth-maximization model of Harold Hotelling (1931); the simulation approach most common in the applied literature, which envisages target-capacity-utilization pricing by OPEC; and the difficult problem of modeling price behavior during disruptions. Finally, Section IV discusses some important unresolved issues, both theoretical and empirical. A variety of contributions to the literature are considered, but the discussion pays special attention to two important recent works. One is the book OPEC Behavior and World Oil Prices (1982) (EAPA 9:3899) edited by James Griffin and David Teece, an important collection of papers on OPEC and world oil, prepared for a 1981 conference at the University of Houston. The other is the 1980 to 1981 world oil study by the Energy Modeling Forum of Stanford Univesity, which involved ten prominent models of the world oil market. 31 references.

This paper presents a theoretical discussion of policy making in the energy industry that adopt policy theories to develop strategies for better energy management. The paper aims to present the applicability of existing policies as methods of management and control of energy in its industry, underlying the importance of OPEC’s role with reference to the EU, US and the Far East. Initial findings suggest that further research is needed to help identify the necessary strategies for an international organization. OPEC is proposed as a starting point for these investigations. Further study into developing an organization to allow for international producers and consumers needs is also needed. Questions regarding the need for such an organization, with best fitting structure are being investigated. The model developed will be presented to various Natural Gas producing countries such as Iran, Iraq, Russia, and Saudi to name a few and will ultimately be set up the same way that OPEC was.

This article is based on a talk given by Mr. Francisco R. Parra - a former Secretary General of OPEC and senior executive of Petroleos de Venezuela - at the Advanced International Petroleum Executive Seminar held by Petroleum Economics Limited in Divonne, from 9 to 11 March 1993. The article first appeared in Middle East Economic Survey 36:26, 29 March 1993. It is reprinted here with permission from the author and MEES. In his talk, he examines the minimal impact of OPEC on world oil prices during the past five years and discusses a number of reasons for this. To reverse this, he concludes that OPEC should limit inventories until prices for crude reach $25/bbl. 5 figs., 2 tabs.

As economic indicators reflect the growth throughout the world following several years of stagnation, energy demand, particularly petroleum, is picking up as well. After enduring historically low oil prices, oil producers welcome the higher demand, but seek higher prices. To accomplish this, OPEC has adopted a long term fundamental strategy in contrast to reacting to short term market volatility in the past. This issue details regional oil demand and output around the world.

World crude oil and condensate output will rise to 75 million bopd in 2004, concludes a recently released Petroconsultant study, entitled Worldwide Crude Oil 10-Year Forecast. It also projects that OPEC`s role in supplying demand will simultaneously grow to nearly 50% of total output. In reaching these conclusions, this report analyzed and predicted each of 94 significant producing nations for the 1995--2004 period. Output has been projected separately for the onshore and offshore sectors. Each nation, including the new republics of the former Soviet Union and individual emirates of the United Arab Emirates, is discussed within its regional and global framework; and key aspects of each of the seven major regions have been delineated. The study integrated full-cycle resource analysis, economics, infrastructure, politics, history, consumption levels and patterns, energy balances, and other pertinent data to cover both supply and demand pictures. The entire discovery and production history was used to frame exploration and development maturity. Future discovery potential has been estimated from largely geologic parameters.

Thousand Cankers Disease of Black Walnut How to Identify and Prevent the Spread of Thousand Cankers counties. Remember: Only YOU can help prevent the spread of thousand cankers disease! Black Walnuts Facts Native range of black walnut in the United States. Uses of Black Walnut Mature black walnuts grown

Sample records for opec countries thousand from the National Library of Energy Beta (NLEBeta)

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Following a review of the main events in the world oil market since 1973 and some of the major explanations of what happened and why, the author discusses projections for the next two decades and considers some implications of various theories of how decisions are made by OPEC. This includes the dominant theoretical approach that uses Hotelling's wealth-maximization model, the simulation approach of target-capacity-utilization pricing by OPEC, and the problem of modeling price behavior during disruptions. The final section discusses some of the important unresolved issues, such as supply and demand uncertainties, the best behavior for OPEC, and the dispute over OPEC's significance to events of the past decade. 31 references.

World oil markets have fluctuated widely during the decade from 1973 to 1983, resulting in major adjustments in patterns of consumption and in the structure of the energy trade worldwide. This study focuses on the role of OPEC as both a producer and a consumer of energy and examines how the role affects the complex relations between OPEC and the U.S. The authors think that the recent U.S shift to closer markets like Mexico and Venezuela and the resulting unfavorable balance of trade with the Middle East and Africa will, in the long run, hurt the U.S. They predict a resurgence of OPEC as a producer of oil, oil products, and petrochemicals within the next twenty years as well as an increasing sophistication in marketing strategies on the part of OPEC members.

World oil markets have fluctuated widely during the decade from 1973 to 1983, resulting in major adjustments in patterns of consumption and in the structure of the energy trade worldwide. This study focuses on the role of OPEC as both a producer and a consumer of energy and examines how that role affects the complex relations between OPEC and the U.S. The authors think that the recent U.S. shift to closer markets like Mexico and Venezuela and the resulting unfavorable balance of trade with the Middle East and Africa will, in the long run, hurt the U.S. They predict a resurgence of OPEC as a producer of oil, oil products, and petrochemicals within the next twenty years as well as an increasing sophistication in marketing strategies on the part of OPEC members.

The primary purpose of this dissertation was to explore the nature, purposes, benefits, and barriers of establishing a currency basket for OPEC as an alternative to the use the dollar for international trade in oil. The study included the construction and evaluation of three alternative currency baskets and the evaluation of two other baskets for the protection of the real price of OPEC oil from foreign-exchange fluctuations between 1971 and 1980. A secondary objective was to assess the inflationary impact on the real price of oil. Finally, the purpose was to evaluate the changes of the terms of trade of OPEC during the same period. The findings of the research are as follows: During 1971-1980, inflation and the relative weakness of the dollar have reduced the real price of oil to OPEC. In spite of this, the terms of trade of OPEC have substantially improved. This was because OPEC increased its oil prices much more than sufficient to compensate for inflation and the fluctuation of foreign-exchange rates.

This is an economic study of the world's oil market in which OPEC plays the central role in determining the oil supply and price. Understanding OPEC's behavior is at the core of understanding the world's oil market. However, oil is a resource belonging to the family of natural resources known as exhaustible. We do not produce oil; we only extract and distribute a fixed amount of the resource over generations. Optimal extraction is a matter of concern to both suppliers and consumers. First, it is shown that using the traditional theory of producers behavior in the conventional commodity markets to explain extractors behavior in exhaustible resource markets is completely wrong. Second, current models of OPEC behavior are reviewed. Third, an alternative model is introduced. Previous authors have not directed their models to give explanations to the peculiar observations in oil market. This model divides the world's oil suppliers into: the free riders (non-OPEC oil producers), the OPEC hawks (a group within OPEC) and the leak-producer price leader (Saudi Arabia). Three factors, namely relatively big oil reserves, no other sources of income, and the avoidance of the so-called backstop technology make Saudi Arabia more interested in lower oil prices than are other oil extractors.

Bodman on OPEC's Decision to Cut Bodman on OPEC's Decision to Cut Crude Oil Production Statement from Energy Secretary Bodman on OPEC's Decision to Cut Crude Oil Production October 19, 2006 - 9:17am Addthis "We continue to believe that it is best for oil producers and consumers alike to allow free markets to determine issues of supply, demand and price. Despite the recent downturn in crude oil prices, they remain at historically high levels, clearly indicating a global demand for petroleum products. And as past experience has shown, market intervention is not beneficial for producing or consuming nations. "While U.S. gasoline prices have fallen, crude inventories are high and our economy remains strong, we must reduce America's dependence on foreign energy sources, as President Bush has said time and again. To do so, we

OPEC members have long been suspected of acting collusively in the market and the object of this dissertation is to estimate the degree of interdependence or the degree of collusion among the large producers in OPEC by analyzing their past output behavior. It is assumed that the oil industry in the non-Communist part of the world consists of a group of small producers acting as price takers and a group of large producers in OPEC setting the price in the market. Large producers may collude or act independently. In order to achieve the objective, a Nash-Cournot non-cooperative model of the world oil market is developed. This model assumes that the world oil industry is composed of a group of small producers acting as price takers (the fringe) and a group of large producers acting independently in the market. Each large producer maximizes his own sum of discounted profits while taking the sales paths of other large producers as well as the sales path of the fringe as given. The solution of the model leads to the optimal production path for an independent large producer, who operates in a market consisting of n independent large producers. This optimal production path, however, is applicable to individual large producers only if they all act independently in the market. Therefore, this optimal production path is modified into a general equation representing the optimal production path for an individual large producer in OPEC, whether he acts independently or colludes with other large producers.

Sample records for opec countries thousand from the National Library of Energy Beta (NLEBeta)

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Within the empirical literature, political instability was either completely ignored or the assumption was made that its impact was significant. One of the major objectives of this study is to determine whether political instability had a significant impact on the oil market during the 1972-83 period. Secondly, there were very important changes that took place within the market - considerable reduction in the non-communist world's oil consumption, increase in production outside OPEC, reduced OPEC market share and capacity use, increased sale of oil directly by OPEC rather than through the oil multinationals, and nationalization of the asset of the latter within OPEC. Within the empirical literature some attention has been paid to the first four changes. The last two changes, however, have generally been assumed to be insignificant. Consequently, the second objective is to determine whether the change of the distribution of ownership within and direct marketing by OPEC itself have had a significant impact on the official price of OPEC crude. The third objective is improved specification of past models of the world oil market through consideration of the influences mentioned above. Results of the study show that political instability, contrary to popular opinion, did not have a significant impact on the market during the 1972-83 period.

Country Analysis Briefs: 1994 is a compilation of country profiles prepared by the Energy Markets and Contingency Information Division (EMCID) of the Office of Energy Markets and End Use. EMCID maintains Country Analysis Briefs (CABs) for specific countries or geographical areas that are important to world energy markets. As a general rule, CABs are prepared for all members of the Organization of Petroleum Exporting Countries (OPEC), major non-OPEC oil producers (i.e., the North Sea, Russia), major energy transit areas (i.e., Ukraine), and other areas of current interest to energy analysts and policy makers. As of January 1995, EMCID maintained over 40 CABs, updated on an annual schedule and subject to revision as events warrant. This report includes 25 CABs updated during 1994. All CABs contain a profile section, a map showing the country`s location, and a narrative section. The profile section includes outlines of the country`s economy, energy sector, and environment. The narrative provides further information and discussion of these topics. Some CABs also include a detailed map displaying locations of major oil and gas fields, pipelines, ports, etc. These maps were created as a result of special individual requests and so are not typically a standard feature of the CABs. They are presented here wherever available as a supplement to the information contained in the CABs.

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Sample records for opec countries thousand from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "opec countries thousand" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
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Sample records for opec countries thousand from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "opec countries thousand" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
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Sample records for opec countries thousand from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "opec countries thousand" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
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Sample records for opec countries thousand from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "opec countries thousand" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
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The durability of natural glasses on geological time scales and ancient glasses for thousands of years is well documented. The necessity to predict the durability of high level nuclear waste (HLW) glasses on extended time scales has led to various thermodynamic and kinetic approaches. Advances in the measurement of medium range order (MRO) in glasses has led to the understanding that the molecular structure of a glass, and thus the glass composition, controls the glass durability by establishing the distribution of ion exchange sites, hydrolysis sites, and the access of water to those sites. During the early stages of glass dissolution, a 'gel' layer resembling a membrane forms through which ions exchange between the glass and the leachant. The hydrated gel layer exhibits acid/base properties which are manifested as the pH dependence of the thickness and nature of the gel layer. The gel layer ages into clay or zeolite minerals by Ostwald ripening. Zeolite mineral assemblages (higher pH and Al{sup 3+} rich glasses) may cause the dissolution rate to increase which is undesirable for long-term performance of glass in the environment. Thermodynamic and structural approaches to the prediction of glass durability are compared versus Ostwald ripening.

Sample records for opec countries thousand from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "opec countries thousand" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
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Sample records for opec countries thousand from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "opec countries thousand" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
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Sample records for opec countries thousand from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "opec countries thousand" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
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Sample records for opec countries thousand from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "opec countries thousand" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
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Sample records for opec countries thousand from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "opec countries thousand" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
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Sample records for opec countries thousand from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "opec countries thousand" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
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Sample records for opec countries thousand from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "opec countries thousand" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
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Sample records for opec countries thousand from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "opec countries thousand" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
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Sample records for opec countries thousand from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "opec countries thousand" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
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Sample records for opec countries thousand from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "opec countries thousand" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
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Sample records for opec countries thousand from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "opec countries thousand" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
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This paper brings out the rationale for and the course of abolition of monopolies in telecommunications, the emergence of independent regulation, competition and markets determining prices for Telecom and Information services in developed countries and ... Keywords: access, competition, convergence, corporatisation, degovernmentalisation, demonopolisation, internet cafes, public telephones, regulation, telecommunications, universal service/

Africa that produces synthetic oil from coal, starts to use natural gas as feedstock in the production, natural gas, and petroleum into liquid fuels and chemicals. Sasol is now a privately owned companysolutions+ + + + Transportation in Developing Countries Greenhouse Gas Scenarios for South Africa

Sample records for opec countries thousand from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "opec countries thousand" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
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There is growing recognition that mammalian cells produce many thousands of large intergenic transcripts [1, 2, 3, 4]. However, the functional significance of these transcripts has been particularly controversial. Although ...

Sample records for opec countries thousand from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "opec countries thousand" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
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Waters In The Valley Of Ten Thousand Smokes Region, Alaska Waters In The Valley Of Ten Thousand Smokes Region, Alaska Jump to: navigation, search GEOTHERMAL ENERGYGeothermal Home Journal Article: Geochemistry Of Waters In The Valley Of Ten Thousand Smokes Region, Alaska Details Activities (3) Areas (1) Regions (0) Abstract: Meteoric waters from cold springs and streams outside of the 1912 eruptive deposits filling the Valley of Ten Thousand Smokes (VTTS) and in the upper parts of the two major rivers draining the 1912 deposits have similar chemical trends. Thermal springs issue in the mid-valley area along a 300-m lateral section of ash-flow tuff, and range in temperature from 21 to 29.8Â°C in early summer and from 15 to 17Â°C in mid-summer. Concentrations of major and minor chemical constituents in the thermal waters are nearly identical regardless of temperature. Waters in the

Argentina was one of the first countries in the world to implement a comprehensive reform of its electricity sector in the recent period. Among developing countries only Chile has had a comparably comprehensive and successful reform. This paper traces the history of the Argentine reform, which began in 1992, and assesses its progress and its lessons. We conclude that the reform was very successful prior to the collapse of the Argentine peso in early 2002. We suggest lessons for the generation, transmission and distribution sectors, as well as the economic regulation of electricity and the general institutional environment favourable to reform. We note that the achievements of the sector are now threatened by the delays in tackling the financial consequences of the peso devaluation.

Sample records for opec countries thousand from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "opec countries thousand" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
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Thousands of Students Prepare to Compete in the National Science Thousands of Students Prepare to Compete in the National Science Bowl Thousands of Students Prepare to Compete in the National Science Bowl January 29, 2013 - 5:00pm Addthis Members of the Los Alamos High School team, Los Alamos, New Mexico, concentrates on the answer to a question at the 2012 National Science Bowl in Washington D.C. on April 29, 2012. | Photograph by Dennis Brack, Office of Science Members of the Los Alamos High School team, Los Alamos, New Mexico, concentrates on the answer to a question at the 2012 National Science Bowl in Washington D.C. on April 29, 2012. | Photograph by Dennis Brack, Office of Science Charles Rousseaux Charles Rousseaux Senior Writer, Office of Science What are the key facts? To learn more about the individual high school regional